Surprising Q2 Growth
The U.S. economy demonstrated robust growth in Q2, with the gross domestic product (GDP) surging at an impressive annual rate of 2.8% from April to June, as reported by the Commerce Department. This...
Revving Up the EV Tax Credit Turbulence
Starting Monday, recent amendments to U.S. Treasury regulations have brought about significant alterations to federal tax credits related to ele...
EV Tax Credits in Peril
Senator Joe Manchin, Chair of the Senate Energy and Natural Resources Committee, is calling on Congress to reconsider recent guidance from the Treasury Department on electric vehicle (EV) tax credits....
Tax Breaks or Tax Burden
On Tuesday, the St. Louis County Council took a significant step toward an innovative economic partnership with Boeing, a leading aerospace company. The project offers major tax incentives for Boeing, aiming to reshape the r...
Tax returns
The IRS announced on Monday that it will begin accepting personal income tax returns for 2021 on Jan. 24.T he administration has already warned that this will be a "frustrating" period for taxpayers str...
Tesla shakes out
Tesla (NASDAQ: TSLA) shares are falling as CEO Elon Musk has slowly worked to offload the 10% of his shares he publicly said he was targeting. The stock is down 13.5% over the past month. But the shares rose again on Wednesday morni...
Tax hike bill
A top Democrat in the House has questioned a new Senate plan to tax the unrealized capital gains of billionaires and other ultra-high earners, arguing that the proposal may be...
Tax on share buy-backs
Democrats in the US Congress want to impose a 2% tax on share buy-backs by companies to raise $270bn to fund the $3.5 trillion welfare bill.
On Friday, two senior Democrats in the US Senate introduced a proposal to impose a 2...
Board renewal
Rolls-Royce's biggest investor, US investment firm Causeway Capital Management, has backed a board renewal at the British company, emerging from the worst recession in the history of the aviation industry. It w...
Inflation rises
The US Department of Labour said on Wednesday that consumer prices rose 0.5% last month, slowing down from June's 0.9% increase. Economists' forecasts came true.
The release of US inflation data for July was the key event for financ...
Taxi service Didi
Chinese giant Didi Global Inc said Beijing's order to remove the taxi-calling service from app shops in China could hit revenues. At the same time, other Chinese companies that recently went public in the US have also been the targ...
Falling on the premarket
Oracle shares fell 5.1% on the New York Stock Exchange's premarket after Oracle predicted its earnings for the current quarter would be below expectations as it ramps up investment in its cloud computing business to&nbs...
New manufacturing plants
General Motors will increase its spending on electric cars, following a similar move by rival Ford, and also plans to open two new battery plants, Reuters reports. GM is counting on the US government to help f...
Corporate tax
The G7 countries on Friday formally approved a global minimum corporate tax rate of 15 per cent. This means that multinational companies like Google, Facebook, Apple and others must pay this minimum tax in ...
Negotiations to supply batteries
Apple is in talks with CATL and BYD to supply batteries for its future electric cars, according to media reports. The main obstacle may be Apple's requirement that the batteries for the Apple Car be manufactured in t...
Demand for taxis
Lyft has increased revenues compared with the previous quarter and expects a further recovery in demand for its taxi service. Lyft provided an outlook for the coming quarter and reiterated its promise to become p...
Tax rate increase
President Joe Biden is preparing to propose next week an increase in the basic tax rate for millionaires, raising it from 20% to 39.6% to fund a new government programme, the American Family Plan, which cou...
Based on its research, Deutsche Bank proposed introducing an additional tax on work from home in the amount of 5% of the employee's salary, if he is not forced to work remotely by Covid-19. As an employee of Deutsche Bank explained, the tax is propos...
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